I first started looking at this company on the 28th August when it had traded 150m units in one day but price had not moved significantly. From the 24th to 28th, there was over 230m shares traded, equivalent to about the last 250 days of cumulative volume traded. That is a huge volume yet price had only went from 2c up to 3c.
What attracted me is the 3m MC, news of plant based meats and obvious interest ( volume ) yet low price. Beyond meats is worth 8b USD, here this is a 3m company, surely it's "going to the moon" as some in this forum would put it.
Then I dug a little deeper.
On the 24th aug, there was a placement of 180m shares to sophisticated and professional traders.
On the 27th aug, they announced a "Buy Now Pay Later" BNPL model for roots customers ( did anyone bother to read what this actually is? Hint: It has _nothing_ to do with any of the BNPL hot stocks... )
On the 28th aug, 150m shares got sold into the news of a plant based meat proof of concept.... for a company selling agricultural equipment.
Let me join the dots for you buyers:
Prior to 24th Aug, EverBlu Capital goes out to ppl with money ( "sophisticated investors" ) and says: This is a company who are losing money year on year, has no retail interest, are unable to borrow any more but need money to finance their ongoing innovative products ( which I'll admit is pretty cool ).
Investors say: Looks like a really shitty deal, why should we put out money for them?
EverBlu: Because they've got some really exciting announcements in the pipeline, coming very *very* soon.
24th Aug, a 3m MC company raises 2.5m. 180m shares.
27th aug, BNPL, hahhaha, this is just sales 101.... we install on your farm, you can pay back in the next 24 mths, 50m shares traded? wtf for?
There is nothing material in the announcement other than they failed to sell their own tech for 3 years and are now enlisting help at 15% commission with no guarantee.
28th aug: The money shot. News of plant based meats poc. 150m shares traded hands at 2.4-3c ( 4 days ago, 180m shares sold to dodgy... ops i meant sophisticated investors at 1.6c ). This is coming from a company who is selling agricultural equipment... to grow food.
I know as I write this the SP is up 68% at 4.2c but having looked at their prospectus, the recent few days of activity and formed my own opinion of their dodgy practices, i'm glad I didn't get in at 2.7c
